The Korean government held its 42nd annual Trade Day ceremony at the COEX ("Convention and Exhibition") Center in Seoul on November 30. Two Doosan Infracore employees, Kim Heung-soi (Technology Service Team, Engines & Materials) and Gen. Mgr. Song Wha-yong (Overseas Sales Team, Machine Tools & Factory Automation) were among the recipients of special awards during the event.
Mr. Kim received a Minister of Commerce, Industry & Energy Commendation for his efforts to secure Doosan Infracore's presence in the Chinese market. He spent more than a year and a half providing Chinese customers with maintenance and repair technology and techniques, enhancing technical service quality and customer confidence in the company.
Mr. Kim played a key role in Doosan Infracore's rapidly increasing exports of diesel engines for power generators and vehicles to China. The year-on-year growth rate was 120% in 2002, 216% in 2003, and 342% in 2004, while units sold per year have risen six-fold in five years, from 544 in 2001 to over 3,000 in 2005.
Meanwhile, Gen. Mgr. Song has worked since 2000 to cultivate new markets (India, Russia, Southeast Asia, Oceana, the Middle East, Africa and Japan) for his Business Group. The Machine Tool & Factory Automation BG saw exports in these markets rise eight times in five years, from US$5 million in 2000 to US$40 million in 2004. In addition, the company sold US$25 million worth of machine tools and factory automation systems in these new markets during the first half of 2005 and expects the total figure this year to reach US$50 million, a 20% year-on-year increase.